Banks and financial companies to be banned from forcing customers to call premium rate numbers

Banks and other financial companies are to be banned from forcing customers to call premium rate numbers.

Currently, customers looking for help or to complain face charges of up to 50p a minute from a mobile when calling numbers beginning 084 or 087.

But from October 26, these calls will be charged at the same level as dialling a standard rate number — typically no more than a few pence per minute.

Finally: Banks and other financial companies are to be banned from forcing customers to call premium rate numbers

The new rules, which were announced by City watchdog the Financial Conduct Authority (FCA), will also bar banks and insurers from profiting from customers by taking a share of the cost of calls to premium rate lines.

At present, many banks and building societies print premium rate contact numbers on the back of their customers’ credit and debit cards.